Overseas Shipholding Group rises on strong Q1 results

Octave Specialty

08/05/2023 13:33

** Shares of oil and gas transportation co Overseas
Shipholding Group  OSG.N  up 2.04% at $4.00 premarket
    ** Co's Q1 revenue up by 9.4% to $113.8 million, primarily
from a 255-day decrease in layup days - the time period that a
boat is not being used
    ** Posts Q1 net income of $12.1 million or $0.14/diluted
share vs a net loss of $509,000 or $0.01/share
    ** Up to last close, stock had risen 35.64% so far this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com;))